Ocado Records Second Consecutive Year of Profits
02 Feb 2016 --- Ocado, has reported its second consecutive full-year pre-tax profits, which have ballooned by 65.3 per cent to $17m in 2015.
Ocado, which is battling for market share against Tesco, Sainsbury’s and the other supermarkets, reported that its revenues were up 16.7 per cent $1.6 bn for the full year of 2015.
It said that its customer base had grown during the year by 20 per cent with active customers jumping by 12.4 per cent to 509,000.
Order volumes were up by 16.8 per cent to an average of 195,000 orders a week.
But the average basked value nudged down slightly to $158, which it partly put down to deflation.
It said its own-label sales were up 16.8 per cent.
Analysts have long-expected Ocado to expand its offering beyond its domestic market of Britain and the grocer today said it is continuing discussions with “multiple potential international partners”.
Tim Steiner, Ocado chief executive, said: “We are pleased to announce results today which illustrate the progress Ocado has made through its clear focus on innovation and customer service."
“The continued enhancement of Ocado’s industry-leading technology and investment into our retail proposition over the course of the year has meant our customers now have greater choice, competitive prices and consistently high order accuracy and on-time delivery.”
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